WASHINGTON — PepsiCo Inc., grappling with a slumping soda business, got another boost from its food operations.
Strong sales of Frito-Lay chips and Quaker oatmeal helped PepsiCo beat per-share profit estimates by 9 cents in the second quarter. The results sent the shares up 3 percent Tuesday in early U.S. trading.
PepsiCo, like rival Coca-Cola Co., is looking beyond sugary soda to drive growth as Americans pursue healthier diets. PepsiCo’s latest quarter is another sign that consumers continue to love its salty snacks: chips like Tostitos and Ruffles have remained popular.
Revenue was down 1 percent in PepsiCo North American beverage unit last quarter, while profit slipped 16 percent.
